Nobody is surprised by the fact that currently there is a great boom in cryptocurrencies or virtual currencies by society as a whole thanks to the great explosion they have suffered in recent times. The increase in their value and the increase in the number of investments by society as a whole has resulted in a tremendous attraction that is only compensated by the lack of widespread knowledge on the subject.
This should not be an impediment to be able to start in the world of cryptocurrencies or operate with them on a large scale. For this, the most fundamental and that you have to know in detail are the exchanges or cryptocurrency exchange platforms, where the day-to-day activity with virtual currencies is centered.
What Are Exchanges?
The exchanges are nothing more than places or online sites where you can find cryptocurrencies, buy them and sell them at pleasure, functioning as a kind of platforms for buying and selling shares to use. In them, the user can consult the real-time the value of the currencies and exchange them for others or withdraw their value in cash.
In them, the bulk of the activity is concentrated with virtual currencies, since they are the safest and most reliable way through which to buy and sell the quantities that are wanted. They are also a condition when it comes to trading with virtual currencies, since each exchange operates independently and has its own peculiarities and characteristics, such as not having a specific currency.
How Do They Work
Although the operation of the exchange platforms differs between them based on the particularities that govern them, they have a large number of similar patterns. The most obvious is the need for the user who wants to make use of the said platform to register on it with his personal data to be able to safely and privately exchange currencies.
This account will help the person to store the cryptocurrencies purchased on the same platform, for example, or check the history of transactions carried out. Without prior registration, exchanges do not allow trading and, therefore, the world of virtual currencies cannot be accessed.
Types Of Exchanges
When choosing an exchange platform, the benefits offered by each of them must be valued in order to be able to make the most of the decision taken; the characteristics that are indispensable for some, others do not need at all, for example.
It’s main features, however, do not usually reside in very specific functionalities, but in the way of operating in general of the platform and, especially, in the cryptocurrencies that are available for purchase in each of them.
The Best Crypto Exchanges
The truth of exchanges is extensive, but these are the best ones that can be accessed right now to buy and sell cryptocurrencies:
Coinbase is, most likely, the best-known exchange due to the simplicity it enjoys. Any person can register and open an account in a few minutes, after which they will be able to buy and sell a minimal amount of coins, but among those that are the main ones and those that everyone knows. Commissions are higher than others, but it is the ideal option if complexities are to be avoided.
In the case of https://cex.io/, it is a company in full growth, and that offers through its platform an exchange, sale, and purchase of the main currencies, but nothing too extensive. However, they have interesting options that are not available to other platforms, such as the possibility of making investments above the balance available in each account, which allows improving long-term profitability.
Gemini is the world’s first licensed platform to operate Ethereum and is dedicated to offering its services exclusively with that currency and Bitcoin. It is founded by the Winklevoss brothers, who are known for their demands on Facebook and Mark Zuckerberg, and it is a very safe and reliable service.
Another of the greats of today is Bitfinex, which has a large number of currency pairs with which you operate, supports a large number of cryptocurrencies and has one of the safest networks of the moment. If you add to this the low commissions, there are few reasons not to use it if the occasion arises.
Bittrex currently offers about 200 pairs of cryptocurrencies on one of the most complete platforms that can be accessed. In the same way as the previous one, security is one of the predominant elements in it, and it is an option that could be even more interesting if one is interested in a particular type of currency.
As far as pure exchanges with cryptocurrencies are concerned, Binance takes the lead thanks to its policy of exclusively accepting transactions between virtual currencies and never physical money, so it is the preferred place for those who operate entirely in the virtual spectrum It is reliable, safe and very fast.
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